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20130104
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spending problems one iota? obama, how can you say you won and, gosh, be smiling and patting yourself on the back. >> because he defined the problem as not having enough tax revenue. but now we can see right after they do the cliff, we have s&p, moody's, the imf coming out and saying, this doesn't come close. the problem all along has been spending. t the republicans got the right issue and the wrong chart. >> the chart yesterday showed that the 65 billion this will raise in taxes and the 1.2 trillion that the shortfall is. it showed it in a bar chart. that's our victory. it was like this, 65 billion here and 1.2 trillion. it did absolutely nothing. >> that is slightly true. but it was the arson that started the fire and before they showed up, they put out the fire and nobody was killed. they created this for their own purposes. >> i don't think the fed sat around and said we have to do 85 billion a month just so the congressional parties can screw up? >> you don't think -- >> what's that? >> so they do one month of 85 and then say, oh, never mind? >> no. they had the centers all alon
house that will agree with everything that the obama administration wants, then we'll do that and we'll electric more democratic senators, the democrats can control the house, the senate and the white house and we'll give the president a rubber stamp on everything and washington will be totally fixed and we'll live in this great, great european country. so maybe it will go that way. but if it doesn't go that way and it's not washington, it's the people that send these representatives to washington who disagree with -- there's a 50/50 people split in this country of people who love entitlements because they're people on the receiving end and there's people on the other side who is funding everything. i don't know. i don't know whether it's a broken washington or we're just at a crossroads in the way the republic is governed and we have to make a decision as a country which way we head. >> right. that's definitely a lot of the ltage. there's still a lot of assets on the other side of the balance sheet of all those liabilities. you have to focus on growth. growth should be the -- you kn
out 45 minutes later. >>> first, breaking news out of washington. today, president obama is going to be announcing his plans to nominate jacob lew as the next treasury secretary. the president will be making that announcement at 1:30 eastern time in an event in the east room of the white house. john harwood joins us now with more on that. john. >> andrew, president obama is going inside his inner circle to fill a key job as jack lew is somebody who served as chief of staff. he was budget director before that. he served in hillary clinton's state department. he does not have a deep background and ties to wall street and business. he's a creature of congress, made his name in washington working for tip o'neal, the house speaker. very hard working, very key, very bright. republicans found him a difficult negotiators in some of the budget talks over the last couple of years, but i would expect, andrew, that he's going to be confirmed pretty handily even though he'll have difficult questions in his confirmation hearing. >> john, how disappointed -- and perhaps now, but it appears that
completely appreciating that part of the debate. $600 billion, i think obama wanted $1.6 trillion. i think boehner got us to 800. that was the bid offer, it never happened. we'll see what happens, i think. the opening bid for the democrats will be -- no, we need more revenue. >> why you -- why are you happy then? >> i'll tell you why. when we sat here in the fall, we said you have to look through the cliff in some ways when you're investing in the market. we expected gains to go to the last day. i expect gain theory to go right to the last day. >> then it will do something. >> then, guess what, are we going to default on our debt? highly unlikely. >> we'll do something half -- that's good enough because the u.s. economy is resilient. >> i hate to say it -- >> he said half [ bleep ]? >> no, he said we're making progress step by step. while it's hard to see it through all of this, he looks more positive about it because he does think we are making slow progress moving toward it. you're not going to see a grand deal that a lot of people wanted. >> he probably -- >> progress is progress. >> le
today, president obama is expected to nominate former republican senator chuck hagel as defense secretary. republicans call him a controversial in your face pick. he criticized the iraq troops that opposed unilateral sanctions as iran and he once said that being gay impended effectiveness. there have been people on both sides of the aisle who have been mad about this. >> so what's the point? it's so weird, isn't it? >> that they've chosen him? >> yeah. both sides, neither side. sometimes you pick a republican that is bipartisan, but this is the one republican that most republicans -- >> he likes him for some reason. >> and it's going to be a battle. why do you like him? >> i don't like him. i don't know if i like him or don't like him. >> with all the act money and everything, why do we need a controversial pick for this? when neither the democrats nor the republicans seem to want him. it's going to be a protracted battle. >> i don't think you want to get in the middle of that. >> he served with valor in vietnam. that's part of why he's standing by him. but you would initially t
. because neither party wanted to defend it, the temporary payroll tax cut enacted under president obama died at the end of 2012, which means that everyone in the country will see a bigger tax bite out of their pay check this year. so when you get your first check of the year, look at the amount charged under fica. you're going to be paying more than you did back in december. how big of a bite is it? for many middle-class workers it will work out to a trip to the grocery store or a tank of gas less every two weeks this year. here are the numbers. for a single person making $60,000 per year who is paid biweekly gross income in a pay check is $2,307.69. in december, you'd have had to subtract from that federal withholding taxes of $403.56, fica taxes were $96.93. medicare was $33.46. state withholding for a person like me who lives in maryland was $177.35. so that gives the taxpayer net pay in one check in december of $1,596.39. so, what happens this month? gross pay is the same, as are the medicare and state taxes. but fica taxes go up sharply. to $143.08. that's $46.15 in a bite from the
Search Results 0 to 5 of about 6

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